Timebanking - The New Currency

Volunteer Now, the lead organisation for Volunteering in Northern Ireland is the force behind Northern Ireland’s first Organisation to Organisation Timebanking scheme whereby voluntary and community groups can exchange resources and expertise without the need for payment.

Volunteer Now’s, Billy Eagleson, explained, “Timebanking is a grass roots tool that uses time as the currency to exchange resources and expertise.  For example, a small community group might not have the budget to send their staff on IT training but may have a room that is empty for part of the week which could be used by another group for an event in return for time credits.  These credits could then be used to purchase the IT training from another member organisation.  By equally valuing the services and resources groups and organisations can offer each other, exchanges can be made that are of real value without the need to exchange money.”

He added, “The more groups that join the Organisation to Organisation Timebank, the more groups can benefit and the more exchanges can be made.  For every hour a group ‘deposits’ in the Timebank,  they can ‘withdraw’ an hour of support.  As well as running the Timebank, Volunteer Now are also members and we have ‘deposited’ an hours communication/marketing consultancy which was accessed  by the Centre for Health and Wellbeing in West Belfast  who were looking some guidance on drafting a marketing plan.  They in turn are able to offer donating staff time for a one off event, acupuncture, sharing facilities and meeting spaces, management coaching and training.  The joy of Timbanking is that you don’t have to do a direct exchange with one organisation and everyone’s time is equal irrespective of what is being exchanged.   So we’ll bank our hour until we need to access a service or expertise which our organisation needs.”

The Organisation to Organisation Timebank is free to join and is open to all kinds of organisations. Each member organisation receives 3 time credits free upon signing up.  Offers and requests are posted and marketed through Volunteer Now.  If your organisation or group is interested in finding out how Timebank can support your organisation and how you are best placed to help other groups contact Sinead Quinn, Timebank Development Officer on 028 9023 2020 or email: [email protected]